Opening the door to your first home is a major milestone. While you are looking forward to the moment you receive your keys, you could have a lot of questions about the mortgage process.
You also might not be sure what type of loan to apply for. In fact, many first time homebuyers are surprised to discover just how many types of mortgages there are.
At Lake Mortgage, we are here to guide you to the loan product that will help you move affordably into your Indiana dream home.
Find the Right Type of Mortgage to
Buy Your First Home
We can connect you with the following types of home loans:
Conventional
Conventional conforming loans make it possible to buy a home with a loan term and interest rate format that are suited to your financial scenario. They can feature low down payments for borrowers with high credit scores.
FHA
Consider a mortgage that is backed by the Federal Housing Administration (FHA). Low down payments, flexible credit qualification requirements, and affordable interest rates are among the defining features that make FHA loans so popular with first time homebuyers.
VA
The US Department of Veterans Affairs backs VA loans so that veterans, active-duty service members and eligible surviving spouses can move into Indiana homes with zero down.
Jumbo
When buying your dream home requires more money than you can borrow with a conforming mortgage, a jumbo loan can offer you the additional financing you need.
USDA
Through the USDA loan program backed by the US Department of Agriculture, low and middle income families can move into rural homes with no down payment.
Why Buy Your First Home With Lake
Mortgage?
Here are some reasons to choose Lake Mortgage as your first mortgage company:
- With 75 years of experience, we are prepared for every possible loan scenario, and can help you work through any obstacle. We are committed to matching you with an affordable mortgage to buy your first home.
- We love teaching homebuyers all about the mortgage process and the different types of home loans. You will have a clear understanding of the steps ahead by the end of your consultation.
- With our online application, you can apply quickly and easily from the comfort of your home.
- Our mobile app and web portal let you check on your loan progress at any time. You can also use our app to upload and sign documents. Plus, eClosing is on the way.
- You can count on us for timely, ongoing communication about your mortgage status, helping you move smoothly through the process to close fast.
- We service loans and offer an easy online payment portal.
- Just as we have been serving members of the Merrillville community for decades, we will be here to continue providing great support to all of our customers for decades to come. We are here for you as your neighbor.
You Are Just Steps Away From Your
First Home
Buying your first home is easy with Lake Mortgage walking you through the mortgage process. If you are ready to take the next step to your first home, please give us a call today at (219) 756-5626 to schedule your consultation.
Tired of Your Loan Being Sold?Bring Your Mortgage Home – We will not sell the servicing of your conventional loan. We will service your conventional loan here in Merrillville. Enjoy the peace of mind knowing that we are taking care of your account.
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